FraudBlogger.com
 
  home

blog archives

search

FraudBlogger index

mortgage news

mortgage newsletter

mortgage rss feed

mortgage fraud news

mortgage lawsuits, judgements, settlements & class actions

predatory lending news

advertise
mortgage news for PDAs, Blackberrys, mobile phones and handheld devices
mortgage news for your handheld devices

contact us


SamGarcia.com
affiliated
publications:


CloseNow.com
CloserBlog.com
FraudBlogger.com
GirlsNewsDaily.com


mortgage industry news for your handheld computer
free mortgage industry news
MortgageDaily.com
MusicNewsDaily.com
SongBlogger.com

 

PRESS RELEASE

DataVerify Expands Fraud Prevention Tools

Fraud Detection Software Integrates with MERS Platform




 

CHESTERFIELD, Mo.-- DataVerify, a leader in automated data verification and mortgage fraud detection, has created the first electronic integration with MERS (Mortgage Electronic Registration Systems, Inc.), within its DRIVE (Data Risk Intelligent Verification Engine) anti-fraud protection platform to assist mortgage lenders in reducing loan losses by detecting and identifying the deceptive practice of undisclosed mortgage fraud transactions within a specified window of time.

Combined with DRIVE’s unique undisclosed debt alerts, DRIVE’s automatic MERS trigger creates an additional “touchless” verification process to assist in significantly reducing the risk associated with undisclosed debt and providing fraud protection. The DRIVE platform instantly completes a search of the MERS System, thereby receiving a detailed response that lists all MERS’ registered real estate loans closed by the borrower.

“The MERS System has become an essential due diligence step in the mortgage industry’s war on fraud,” said Steve Halper, president of DataVerify. “As MERS continues its mission to reduce paper in the home-buying process, DataVerify is proud to be the first automated mortgage fraud prevention vendor to link our data verification and fraud protection analytic capabilities to the MERS System database.”

“As multiple application mortgage fraud continues to grow, MERS System loan registration information has emerged as one of its most formidable combatants,” said Dan McLaughlin, executive vice president for MERS. “DataVerify’s new MERS portal streamlines the loan registration search process, enhancing lenders ability to detect and prevent this type of mortgage fraud that is impacting lenders, investors, insurers and borrowers, in terms, of both increased losses and hardship.”





SOURCE: DataVerify



mortgage podcast



The Mortgage Graveyard



News By: MortgageDaily.com

The content on this site does not necessarily reflect the
views of any affiliated or unaffiliated news publications.

Copyright © 2005-2007 FraudBlogger.com